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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2024
Reinsurance |
Schedule of information pertaining to effects of reinsurance on premiums and other considerations and policy and contract benefits (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31,
​ | ​ | 2024 |  | 2023 |  | 2022
​ |  | (in millions)
Premiums and other considerations: |  | ​ |  |  | ​ |  | ​ |  |
Direct | ​ | $ | 7,381.8 | ​ | $ | 6,962.2 | ​ | $ | 5,796.1
Ceded | ​ |  | (531.6) | ​ |  | (491.3) | ​ |  | (456.4)
Net premiums and other considerations | ​ | $ | 6,850.2 | ​ | $ | 6,470.9 | ​ | $ | 5,339.7
Benefits, claims and settlement expenses: | ​ |  | ​ | ​ |  | ​ | ​ |  |
Direct | ​ | $ | 10,131.5 | ​ | $ | 9,365.4 | ​ | $ | 8,103.6
Ceded (1) | ​ |  | (2,058.9) | ​ |  | (1,577.2) | ​ |  | (1,472.3)
Net benefits, claims and settlement expenses | ​ | $ | 8,072.6 | ​ | $ | 7,788.2 | ​ | $ | 6,631.3
Liability for future policy benefits remeasurement (gain) loss: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Direct | ​ | $ | 252.7 | ​ | $ | 737.4 | ​ | $ | (179.5)
Ceded (1) | ​ |  | 418.7 | ​ |  | (789.0) | ​ |  | (85.0)
Net liability for future policy benefits remeasurement (gain) loss | ​ | $ | 671.4 | ​ | $ | (51.6) | ​ | $ | (264.5)
(1) | Includes the one-time impact of YRT reinsurance transactions in 2024.
Schedule of information pertaining to cost of reinsurance asset and liability included on the consolidated statements of financial position (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2024 |  | December 31, 2023
​ |  | (in millions)
Cost of reinsurance asset |  | $ | 3,187.6 |  | $ | 3,275.5
​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of reinsurance liability | ​ | $ | 958.1 | ​ | $ | 424.6
Schedule of assets held in support of reserves associated with coinsurance with funds withheld agreement (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2024 | ​ | December 31, 2023
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 13,519.6 | ​ | $ | 15,587.5
Fixed maturities, trading | ​ | ​ | 299.4 | ​ | ​ | 316.8
Equity securities | ​ | ​ | 0.3 | ​ | ​ | 0.3
Mortgage loans | ​ | ​ | 2,212.4 | ​ | ​ | 2,385.9
Other investments | ​ | ​ | 1,142.8 | ​ | ​ | 621.4
Cash and cash equivalents | ​ | ​ | 1,080.1 | ​ | ​ | 818.4
Accrued interest income | ​ | ​ | 166.2 | ​ | ​ | 187.0
Net other liabilities | ​ | ​ | (99.4) | ​ | ​ | (77.8)
Net assets | ​ | $ | 18,321.4 | ​ | $ | 19,839.5
Schedule of components of net investment income on the funds withheld assets that were passed to coinsurer (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31,
​ | ​ | 2024 |  | 2023 |  | 2022
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | 825.9 | ​ | $ | 856.9 | ​ | $ | 745.9
Fixed maturities, trading | ​ | ​ | 21.5 | ​ |  | 11.9 | ​ |  | 2.0
Equity securities | ​ | ​ | — | ​ |  | 0.2 | ​ |  | 0.6
Mortgage loans | ​ | ​ | 114.7 | ​ |  | 119.0 | ​ |  | 98.4
Cash and cash equivalents | ​ | ​ | 52.8 | ​ |  | 57.9 | ​ |  | 18.2
Other | ​ | ​ | 88.2 | ​ |  | 64.0 | ​ |  | 4.8
Total | ​ | ​ | 1,103.1 | ​ |  | 1,109.9 | ​ |  | 869.9
Investment expenses | ​ | ​ | (35.8) | ​ |  | (23.7) | ​ |  | (20.5)
Net investment income | ​ | $ | 1,067.3 | ​ | $ | 1,086.2 | ​ | $ | 849.4
Schedule of components of net realized gains (losses) on the funds withheld assets that were passed to coinsurer (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31,
​ | ​ | 2024 |  | 2023 |  | 2022
​ | ​ | (in millions)
Fixed maturities, available-for-sale | ​ | $ | (60.5) | ​ | $ | (229.7) | ​ | $ | (235.5)
Fixed maturities, trading | ​ |  | — | ​ |  | (0.1) | ​ |  | (6.4)
Equity securities | ​ |  | — | ​ |  | (1.2) | ​ |  | (2.4)
Mortgage loans | ​ |  | (1.8) | ​ |  | (34.1) | ​ |  | (24.8)
Derivatives | ​ |  | 0.2 | ​ |  | 7.2 | ​ |  | 2.7
Other | ​ |  | — | ​ |  | — | ​ |  | 3.3
Net realized capital losses | ​ | $ | (62.1) | ​ | $ | (257.9) | ​ | $ | (263.1)
​

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